Section 44ad

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ASHIM (Querist)
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29 August 2013 Sir, Please let me know that when assessee maintain proper books of accounts but shows our net profit below 8% then in such case audit under section 44AD is necessary or not?and second is does section 44AD is applicable in case both cases when assessee maintain books of accounts and when not maintain proper books of accounts?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 August 2013 Only Business eligible under sec.44AD will be covered under audit when shows the presumptive income below 8%. other category only if they cross the turnover u/s.44AB then only audit apply

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